The Transition Period

Dominique Rambures

Chapter 2 in The China Development Model, 2015, pp 23-46 from Palgrave Macmillan

Abstract: Abstract When Deng Xiaoping took over power, it is probable he did not know precisely where he was going. However, he knew that he was moving in the right direction. Like the zen archer, he had the chance to hit the target but only by adopting the correct stance. The ‘policy of reform and opening’ has been implemented through a set of experiments of trial and error which, over time, have generated a true mutation. It is a gradual yet pragmatic process, using a process of limited and tightly controlled opening. ‘It was a step by step process thanks to which we continuously deepen our understanding — it was the experiment which allowed us to learn’ (Zhao Ziyang, former general secretary and prime minister).

Keywords: Interest Rate; Foreign Direct Investment; Monetary Policy; Central Bank; World Trade Organization (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-46549-8_3

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DOI: 10.1057/9781137465498_3

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